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First successful oil reservoir in block 53

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The first successful oil discovery was made in Blok 53 off the Surinamese coast. Baja-1 has been drilled to a depth of 5,290 meters, encountering 34 meters of net oil. Preliminary liquid and log analyzes indicate light oil with a gas-to-oil ratio of 1,600 to 2,200 standard cubic feet per barrel, in a good quality reservoir Suriname and APA Corporations report in separate statements.

A preliminary technical analysis indicates that the Baja-1 discovery could be an extension of the same reservoir found in the Krabdagu well in Blok 58. Staatsolie said, that if confirmed, it could represent a huge addition to the Krabdagu reservoir.  It further stated that the discovery of Baja-1 also helps reduce the risks of similar exploration opportunities in the rest of Block 53, highlighting the potential of offshore Suriname, including beyond Block 58.The exploration period of Blok 53 has now been extended to better explore the area.

Water containing reservoirs were found in the Dikkop-1 pit in Blok 58. APA has indicated that exploration activities in the Dikkop-1 dry well have been completed and closed. Dikkop-1 was intended to increase the production level for development, expressed in barrels per day. Staatsolie pointed that unlike the first development in Guyana, Suriname will have to combine several reservoirs due to the differences in geology to arrive at the required commercial volumes for the first offshore project. Nevertheless, analyzes by Staatsolie and its offshore partners show that there is certainly room for the development of several projects in this deep-sea area.

According to Staatsolie, the first development will probably come from the combination of Sapakara and Krabdagu. So far in Block 58, seven exploration wells have been drilled, 5 of which have identified significant hydrocarbon reservoirs requiring further assessment, starting with Maka-1 in 2020. This represents an exploration success rate of over 70%. Staatsolie  stated that from a global exploration perspective, this can be qualified as a world-class result.  Three drilling platforms are currently in operation in the offshore area of ​​Suriname. In Block 58, 2 drilling platforms will be active, which will carry out both exploration and appraisal drilling. Shell also recently started drilling an exploration well in Block 42.

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